Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) said today that it
expects to report over $386 million in 2012 Net Operating Income after
management fees (“NOI”) for the Company’s seniors housing operating
portfolio of high-quality, private pay communities operated by Atria
Senior Living, Inc. (“Atria”) and Sunrise Senior Living, Inc.
(“Sunrise”). Previously, the Company had projected NOI of between $383
million and $385 million for this portfolio. These preliminary results
include NOI from discontinued operations, but exclude NOI from
communities acquired in December 2012, in order to be consistent with
the Company’s previously stated NOI guidance for its Atria- and
Sunrise-managed communities.

Fourth quarter occupancy in the “same-store” portfolio increased both
sequentially and year over year as follows:

Same-Store Q4 YoY

2012

2011

Assets

194

194

Unit Occupancy

91.9%

88.3%

Same-Store QoQ

4Q 2012

3Q 2012

Assets

212

212

Unit Occupancy

91.7%

90.4%

Ventas also said that its management will be conducting a property tour
today of six of its assets located in the greater Phoenix area,
consisting of four private pay seniors housing communities and two
medical office buildings. Also, the Company’s Chief Executive Officer,
Debra A. Cafaro, will participate in a panel presentation at the
American Seniors Housing Association (ASHA) conference being held
concurrently in Scottsdale.

The NOI and occupancy discussed in this press release are preliminary
estimates, and are subject to change as the Company completes its
year-end internal review and its audit procedures.

As previously disclosed, the Company will release its final fourth
quarter and full-year 2012 results on Friday, February 15, 2013 prior to
the opening of trading. Its conference call will follow at 10:00 a.m.
Eastern Time (9:00 a.m. Central Time).

Ventas, Inc., an S&P 500 company, is a leading healthcare real estate
investment trust. Its diverse portfolio of more than 1,400 assets in 47
states (including the District of Columbia) and two Canadian provinces
consists of seniors housing communities, skilled nursing facilities,
hospitals, medical office buildings and other properties. Through its
Lillibridge subsidiary, Ventas provides management, leasing, marketing,
facility development and advisory services to highly rated hospitals and
health systems throughout the United States. More information about
Ventas and Lillibridge can be found at www.ventasreit.com
and www.lillibridge.com.

This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding the Company’s or its tenants’, operators’,
managers’ or borrowers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and dividend
plans, financing opportunities and plans, capital markets transactions,
business strategy, budgets, projected costs, operating metrics, capital
expenditures, competitive positions, acquisitions, investment
opportunities, dispositions, merger integration, growth opportunities,
expected lease income, continued qualification as a real estate
investment trust (“REIT”), plans and objectives of management for future
operations and statements that include words such as “anticipate,” “if,”
“believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,”
“should,” “will” and other similar expressions are forward-looking
statements. These forward-looking statements are inherently uncertain,
and actual results may differ from the Company’s expectations. The
Company does not undertake a duty to update these forward-looking
statements, which speak only as of the date on which they are made.

The Company’s actual future results and trends may differ materially
from expectations depending on a variety of factors discussed in the
Company’s filings with the Securities and Exchange Commission. These
factors include without limitation: (a) the ability and willingness of
the Company’s tenants, operators, borrowers, managers and other third
parties to satisfy their obligations under their respective contractual
arrangements with the Company, including, in some cases, their
obligations to indemnify, defend and hold harmless the Company from and
against various claims, litigation and liabilities; (b) the ability of
the Company’s tenants, operators, borrowers and managers to maintain the
financial strength and liquidity necessary to satisfy their respective
obligations and liabilities to third parties, including without
limitation obligations under their existing credit facilities and other
indebtedness; (c) the Company’s success in implementing its business
strategy and the Company’s ability to identify, underwrite, finance,
consummate and integrate diversifying acquisitions and investments,
including investments in different asset types and outside the United
States; (d) macroeconomic conditions such as a disruption of or lack of
access to the capital markets, changes in the debt rating on U.S.
government securities, default or delay in payment by the United States
of its obligations, and changes in the federal budget resulting in the
reduction or nonpayment of Medicare or Medicaid reimbursement rates; (e)
the nature and extent of future competition; (f) the extent of future or
pending healthcare reform and regulation, including cost containment
measures and changes in reimbursement policies, procedures and rates;
(g) increases in the Company’s borrowing costs as a result of changes in
interest rates and other factors; (h) the ability of the Company’s
operators and managers, as applicable, to comply with laws, rules and
regulations in the operation of the Company’s properties, to deliver
high quality services, to attract and retain qualified personnel and to
attract residents and patients; (i) changes in general economic
conditions or economic conditions in the markets in which the Company
may, from time to time, compete, and the effect of those changes on the
Company’s revenues, earnings and funding sources; (j) the Company’s
ability to pay down, refinance, restructure or extend its indebtedness
as it becomes due; (k) the Company’s ability and willingness to maintain
its qualification as a REIT due to economic, market, legal, tax or other
considerations; (l) final determination of the Company’s taxable net
income for the year ended December 31, 2012; (m) the ability and
willingness of the Company’s tenants to renew their leases with the
Company upon expiration of the leases, the Company’s ability to
reposition its properties on the same or better terms in the event of
nonrenewal or in the event the Company exercises its right to replace an
existing tenant, and obligations, including indemnification obligations,
the Company may incur in connection with the replacement of an existing
tenant; (n) risks associated with the Company’s senior living operating
portfolio, such as factors that can cause volatility in the Company’s
operating income and earnings generated by those properties, including
without limitation national and regional economic conditions, costs of
food, materials, energy, labor and services, employee benefit costs,
insurance costs and professional and general liability claims, and the
timely delivery of accurate property-level financial results for those
properties; (o) changes in U.S. and Canadian currency exchange rates;
(p) year-over-year changes in the Consumer Price Index and the effect of
those changes on the rent escalators contained in the Company’s leases,
including the rent escalator for Master Lease 2 with Kindred Healthcare,
Inc., and the Company’s earnings; (q) the Company’s ability and the
ability of its tenants, operators, borrowers and managers to obtain and
maintain adequate property, liability and other insurance from
reputable, financially stable providers; (r) the impact of increased
operating costs and uninsured professional liability claims on the
liquidity, financial condition and results of operations of the
Company’s tenants, operators, borrowers and managers, and the ability of
the Company’s tenants, operators, borrowers and managers to accurately
estimate the magnitude of those claims; (s) risks associated with the
Company’s medical office building (“MOB”) portfolio and operations,
including the Company’s ability to successfully design, develop and
manage MOBs, to accurately estimate its costs in fixed fee-for-service
projects and to retain key personnel; (t) the ability of the hospitals
on or near whose campuses the Company’s MOBs are located and their
affiliated health systems to remain competitive and financially viable
and to attract physicians and physician groups; (u) the Company’s
ability to build, maintain and expand its relationships with existing
and prospective hospital and health system clients; (v) risks associated
with the Company’s investments in joint ventures and unconsolidated
entities, including its lack of sole decision-making authority and its
reliance on its joint venture partners’ financial condition; (w) the
impact of market or issuer events on the liquidity or value of the
Company’s investments in marketable securities; (x) merger and
acquisition activity in the healthcare industry resulting in a change of
control of one or more of our tenants, operators, borrowers or managers
or significant changes in the senior management of our tenants,
operators, borrowers or managers; and (y) the impact of litigation or
any financial, accounting, legal or regulatory issues that may affect
the Company or its tenants, operators, borrowers or managers.Many
of these factors are beyond the control of the Company and its
management.